The Science and Technology Action Committee (STAC), a non-partisan coalition of non-profit, academic, foundation and business leaders advocating for greater focus and funding of science and technology, issued the following statement in reaction to House Republican’s proposed debt limit plan:
The debt limit proposal issued by House Republicans last week would dramatically reduce federal investment in research and development at the worst possible time. Securing funding for the nation’s premier science agencies has never been more critical amid growing global competition growing threats facing the U.S. and the world — from national security issues to climate change to energy independence.
Without these crucial investments, the U.S. is at significant risk of falling behind foreign nations — particularly China — in the global competitiveness race. The Republican proposal would trim $130 billion from the portion of the country’s overall budget that supports the research and development and science and technology advances that are key to powering the U.S. economy, ensuring our national security and improving the health and well-being of every American.
We urge Democratic and Republican lawmakers to work toward a bipartisan compromise that secures the funding we need to remain the global leader in innovation. Doing so will ensure new research, development and technological advancements are created here at home — a priority both sides of the aisle can agree upon.
We stand ready and willing to work with the 118th Congress on advancing science and technology priorities in the debt limit debate as well as the FY24 appropriations cycle.